Continuation Pattern?

11/18/2008 10:26 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

chart

The potential bottoming formation in the S&P 500 required several consecutive up days to confirm, but this has not happened. The RSI has broken its uptrend and failed to move through its downtrend, consistent with a continuation pattern. A break below 800 has downside targets in the 700 area.

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